Utilizing phrase tokens in transactions

ABSTRACT

A system and method for facilitating transactions utilizing phrase tokens are provided. Individual entities can be associated with unambiguous transaction phrase tokens, such as multiple word phrases. The transaction phrase tokens are associated with transaction accounts by a service provider such that the entities can complete a transaction without having to exchange transaction account information. In a transaction, a transaction phrase token is offered to an accepting party, which tenders the offered transaction phrase token to the service provider. The service provider processes the offered transaction phrase token according to configuration information specified for the transaction phrase token. The service provider can automatically process the transaction request or request additional information.

CROSS-REFERENCE TO RELATED APPLICATION

This application is a divisional of U.S. patent application No.11/548,111, entitled UTILIZING PHRASE TOKENS IN TRANSACTIONS, filed Oct.10, 2006, which claims benefit of U.S. Provisional Patent ApplicationNo. 60/823,611, entitled UTILIZING PHRASE TOKENS IN TRANSACTIONS, andfiled Aug. 25, 2006, the entireties of which are incorporated herein byreference.

BACKGROUND

Generally described, computing devices and communication networks, suchas the Internet, can facilitate various interactions among individuals.As applied to financial transactions, the integration of computingdevices and communication networks has created expanded opportunitiesfor entities, such as individuals and/or businesses, to completetransactions. In the simplest embodiment, two entities can transmitrelevant financial information, such as account numbers, and/or personalinformation over the communication network to complete a transaction. Atthe same time, however, the expanded transactional opportunities cancreate additional concerns related to the exchange of detailed financialaccount information, such as bank account numbers, and/or personalinformation. In one aspect, the parties to a transaction may be hesitantabout revealing detailed financial information and personal informationbecause of the potential for fraudulent use of the information,especially if the other entity is unknown or not trusted. In anotheraspect, the parties to a transaction may be cautious to exchangefinancial information because of the potential for processing erroneoustransaction information by one party, such as incorrect quantities,transaction amounts, or duplicate charges.

One attempt to mitigate the concerns associated with the exchange offinancial information relates to the creation of third-partyintermediary accounts. In accordance with this embodiment, a third-partyservice provider can establish specialized transactional accounts thatare backed by a financial account, such as a checking account at a bank,a credit card account, a stored value card account, etc. If both partiesto a financial transaction maintain specialized transactional accounts,the parties can freely exchange their transactional account information,in the form of an account identifier, which allows the service providerto debit/credit each respective account. In various alternatives, theservice provider can adopt additional security in establishing thespecialized transactional accounts and/or additional security inverifying proposed transactions to reduce fraudulent or erroneoustransactions. Nevertheless, current approaches to facilitatingtransactions can become deficient in the representation of thespecialized transaction account as a numerical account number.Furthermore, current approaches to the processing of transactionsutilizing specialized transaction account numbers are not easilyconfigurable by the account holder. For example, account holderstypically do not have the ability to configure their conventionaltransaction account, such as by automatically configuring acceptance oftransactions, limiting transaction exposure, and the like.

SUMMARY

This summary is provided to introduce a selection of concepts in asimplified form that are further described below in the DetailedDescription. This summary is not intended to identify key features ofthe claimed subject matter, nor is it intended to be used as an aid indetermining the scope of the claimed subject matter.

A system and method for facilitating transactions utilizing phrasetokens are provided. Individual entities can be associated withunambiguous transaction phrase tokens, such as multiple word phrases.The transaction phrase tokens are associated with transaction accountsby a service provider such that the entities can complete a transactionwithout having to exchange transaction account information. In atransaction, a transaction phrase token is offered to an acceptingparty, which tenders the offered transaction phrase token to the serviceprovider. The service provider processes the offered transaction phrasetoken according to configuration information specified for thetransaction phrase token. The service provider can automatically processthe transaction request or request additional information.

In accordance with an aspect, a system for processing transactions isprovided. The system includes a token issuer component for generatingtransaction phrase tokens to transaction phrase token holders. Eachtransaction phrase token corresponds to a set of characters that intheir entirety have a secondary meaning to a transaction phrase tokenholder. The transaction phrase tokens may be represented in a variety ofmanners. Additionally, each transaction phrase token is associated witha transaction account. The system also includes a token processingcomponent for processing a request from a party other than thetransaction phrase token holder. The request from the other partycorresponds to a request to complete a transaction and it includes arepresentation of a transaction phrase token from the transaction phrasetoken holder.

The transaction phrase token processing service can processes thetransaction request based on a configuration of the transaction phrasetoken. Based on the processing, the transaction phrase token processingservice can facilitate a reconciliation of the transaction accountassociated with the transaction phrase token upon a successfulprocessing of the transaction request, such as the debiting or creditingof the transaction account.

In accordance with another aspect, a system for facilitatingtransactions is provided. The system includes a transaction phrase tokenthat is associated with a transaction account. The transaction phrasetoken corresponds to a set of characters selected in their entirety by atransaction phrase token holder associated with a transaction phrasetoken assignment request. The system also includes a transaction phrasetoken processing service for processing a request to complete atransaction request that includes a representation of the transactionphrase token. The transaction phrase token processing service can thenprocess the transaction request based on a configuration of thetransaction phrase token.

In accordance with a further aspect, another system for facilitatingtransactions is provided. In this embodiment, the system includes atransaction phrase token that corresponds to a set of charactersassociated with a transaction account. The system also includes atransaction phrase token processing service for processing a request tocomplete a transaction request that includes a representation of thetransaction phrase token. In turn, the transaction phrase tokenprocessing service processes the transaction request based on aconfiguration of the transaction phrase token specified by thetransaction phrase token holder.

In accordance with yet another aspect, a method for facilitating theprocessing of transactions is provided. The method may be implemented bya token processing service. In accordance with the method, the tokenprocessing service obtains obtaining a request for completion of atransaction between two parties that includes a transmitting party. Thetransmitting party can be associated with a transaction phrase tokenthat corresponds to a set of characters. To elicit a debiting of atransaction account associated with the transaction phrase token, thetransmitting party solely transmits a transaction phrase token to areceiving party. The token processing service can then process therequest for completion of the transaction based upon a configuration ofthe at least one transaction phrase token.

In accordance with a further aspect, a computer-readable medium havingcomputer-executable components for facilitating transactions involvingtransaction phrase tokens is provided. The computer-executablecomponents include a token account interface for selecting transactionphrase tokens. The transaction phrase token is associated with atransaction account. Additionally, the transaction phrase tokencorresponds to a set of characters selected by a transaction phrasetoken holder associated with a token assignment request. Thecomputer-executable components also include a token processing componentfor obtaining transaction requests corresponding to an identifiedtransaction phrase token. The token processing component processes thetransaction request in accordance with configuration informationassociated with the identified transaction phrase token.

In yet another aspect, a method for facilitating the selection oftransaction phrase tokens is provided. The method may be implemented bya token processing service. In accordance with the method, the tokenprocessing service obtains a user selection of an entire set ofcharacters corresponding to a target transaction phrase token. Theentire set of characters corresponds to the transaction phrase tokenthat will be utilized to reconcile a transaction account. The tokenprocessing service determines whether the target transaction phrasetoken is unambiguous to a set of transaction phrase tokens.Additionally, the token processing service provides an indication ofwhether the transaction phrase token is unambiguous to a set oftransaction phrase tokens on a user interface.

In still a further aspect, a method for facilitating the processing oftransactions is provided. The method may be implemented by a transactionphrase token recipient. In accordance with the method, the transactionphrase token recipient obtains a request for a transaction from atransmitting party. The request for completion of the transactionincludes a representation of a transaction phrase token that isassociated with a transaction account. Additionally, the transactionphrase token consists of a set of characters selected in their entiretyby a transaction phrase token holder associated with a transactionphrase token assignment request. The transaction phrase token recipientthen transmits a request to a token processing service for completion ofthe transaction based upon a configuration of the at least onetransaction phrase token.

DESCRIPTION OF THE DRAWINGS

The foregoing aspects and many of the attendant advantages of thisinvention will become more readily appreciated as the same become betterunderstood by reference to the following detailed description, whentaken in conjunction with the accompanying drawings, wherein:

FIG. 1 is a block diagram illustrative of a system for processingtransactions utilizing transaction phrase tokens and including a numberof transaction phrase token holders and a transaction phrase tokenprocessing service in accordance with an aspect of the presentinvention;

FIG. 2A is a block diagram illustrating the initiation and processing ofa transaction phrase token offer by the system shown in FIG. 1 inaccordance with an aspect of the present invention;

FIG. 2B is a block diagram illustrating the processing of an approval ofa transaction phrase token request by a transaction phrase token holderby the system shown in FIG. 1 in accordance with an aspect of thepresent invention;

FIG. 2C is a block diagram illustrating the processing of a rejection ofa transaction phrase token request by a transaction phrase token holderby the system shown in FIG. 1 in accordance with an aspect of thepresent invention;

FIG. 2D is a block diagram illustrating the processing of a rejectionwith prejudice of a transaction phrase token request by a transactionphrase token holder by the system shown in FIG. 1 in accordance with anaspect of the present invention;

FIG. 2E is a block diagram illustrating the initiation and processing ofa transaction phrase token transfer request by a transaction phrasetoken holder by the system shown in FIG. 1 in accordance with an aspectof the present invention;

FIG. 3 is a flow diagram illustrative of a transaction phrase tokenassignment routine implemented by a transaction phrase token processingservice in accordance with an aspect of the present invention;

FIG. 4A is a block diagram illustrative of a screen display generated bya computing device for facilitating the assignment of a transactionphrase token for a transaction phrase token holder in accordance with anaspect of the present invention;

FIG. 4B is a block diagram illustrative of a screen display generated bya computing device for facilitating the configuration of a transactionphrase token in accordance with an aspect of the present invention;

FIG. 5 is a flow diagram illustrative of a transaction processingroutine corresponding to transaction phrase tokens implemented by atransaction phrase token processing service in accordance with an aspectof the present invention;

FIG. 6A is a block diagram illustrative of a screen display generated bya computing device for facilitating the submission of a transactionphrase token to complete a purchase transaction in accordance with anaspect of the present invention;

FIG. 6B is a block diagram illustrative of a screen display generated bya computing device for facilitating the publication of a transactionphrase token to complete a purchase transaction in accordance with anaspect of the present invention;

FIG. 7A is a block diagram illustrative of a screen display generated bya computing device for facilitating the acceptance of a transactionassociated with a transaction phrase token and the additionalconfiguration of the transaction phrase token in accordance with anaspect of the present invention; and

FIG. 7B is a block diagram illustrative of a screen display generated bya computing device for facilitating the rejection of a transactionassociated with a transaction phrase token and the additionalconfiguration of the transaction phrase token in accordance with anaspect of the present invention.

DETAILED DESCRIPTION

Generally described, the present invention relates to the utilization oftransaction phrase tokens to facilitate transactions. In one aspect, thepresent invention relates to systems and methods to facilitatetransactions by the transmittal of at least one unambiguous transactionphrase token between two or more entities to a transaction, such asindividuals, corporations, systems, computers, services, etc. In anillustrative embodiment, each unambiguous transaction phrase tokencorresponds to a set of one or more characters selected by thetransaction phrase token holder that relays a secondary meaning to thetransaction phrase token holder when communicated in their entirety,such as spoken, written, published, etc. The unambiguous phrase tokenmay be specific to a particular language, dialect, or set of symbols(e.g., alphanumeric characters). The secondary meaning relayed by thetransaction phrase token can correspond to a characteristic of atransaction phrase token holder (e.g., “Number One Pearl Jam Fan”) or acharacteristic of an intended use of the transaction phrase token (e.g.,“Joe's Rent and Utilities”).

Each transaction phrase token can be associated with configurationinformation that facilitates the processing of a transaction involvingthe transaction phrase token. In an illustrative embodiment, theconfiguration information can relate to the types of reconciliationactivities (e.g., debits or credits) allowed for the transaction accountassociated with the transaction phrase token (e.g., bank accounts,credit card accounts, service provider created accounts, etc.), thespecification of processing rules for specific vendors, goods/services,transaction amounts, expiration data, and the like. In anotherembodiment, a transaction phrase token may be controlled by an entitythat controls the underlying transaction account. Alternatively, thetransaction phrase token may be controlled by an entity (e.g., asecondary entity) designated by the entity controlling the underlyingtransaction account (e.g., a primary entity). For example, a parentcontrolling a transaction account may gift, lend, or authorize the useof a transaction phrase token to a child while maintaining control ofthe underlying transaction account and/or usage of the transactionphrase token. Accordingly, in another aspect, the present inventionrelates to systems and methods for facilitating the configuration andutilization of transaction phrase tokens by an entity controlling thetransaction phrase token.

For purposes of illustration, a transaction phrase token system can beutilized to complete a transaction between two parties. Assume atransaction phrase token holder wishes to complete a transaction withanother party that requires the transaction phrase token holder totransfer funds to the other party (e.g., the purchase of goods/servicesfrom the other party). To initiate the transfer of funds, thetransaction phrase token holder offers a selected transaction phrasetoken to the other party, such as by submitting it via a Web pageinterface, interfacing a kiosk, uttering the transaction phrase token,etc. The other party receives the transaction phrase token with theunderstanding that submission of the offered transaction phrase tokenwill result in the eventual transfer of a transferable instrument, suchas currency, credits, loyalty points, etc., from a transaction accountassociated with the offered transaction phrase token. Upon receipt ofthe offered transaction phrase token, the other party may implementadditional processing steps, such as security verifications, creditchecks, etc.

With continued reference to the illustrative example, to elicit atransfer of funds/credit, the other party transmits a request fortransfer of funds to a transaction phrase token processing serviceidentifying relevant information to the transaction, such as atransaction amount, a representation of the offered transaction phrasetoken, and any additional information. The transaction phrase tokenprocessing service receives the request and can apply various processingrules associated with the offered transaction phrase token, includingautomatically approving/rejecting the transaction, notifying specificparties, requesting approval for the transaction from the transactionphrase token holder, etc. Based on a successful execution of theprocessing rules configured for the offered transaction phrase token,the transaction phrase token processing service can then utilizetransaction account interfaces to cause or be caused a transfer offunds/credits from the transaction account associated with thetransaction phrase token to a transaction account associated with theother party. Upon notification of the approved transaction and/orconfirmation of the credit to its transaction account, the other partycan instigate the fulfillment of any outstanding tasks associated withthe transaction, such as shipping goods, completion/initiation ofservices, etc.

Although the present invention will be described with regard to anillustrative operating environment and components, illustrativetransaction phrase token structures, illustrative examples for use oftransaction phrase tokens, and illustrative screen displays, one skilledin the relevant art will appreciate that the disclosed embodiments areillustrative in nature and should not be construed as limiting.

With reference to FIG. 1, an illustrative transaction phrase tokensystem 100 for processing transaction phrase tokens will be described.The system includes a number of transaction phrase token holders 102A,102B, 102C, 102D, and 102E that can be associated with one or moretransaction phrase tokens. In one aspect, the transaction phrase tokenholders can correspond to transaction phrase token transmitters thatoffer a transaction phrase token in which the transaction accountassociated with the transaction phrase token will be debited as part ofa transaction. In another aspect, the transaction phrase token holdercan correspond to transaction phrase token receivers that obtain atransaction phrase token and request a credit to a transaction account.In an illustrative embodiment, the transaction phrase token receiver mayutilize another transaction phrase token as part of the transaction suchthat the configuration associated with the second transaction phrasetoken will be utilized to provide a credit to a transaction accountassociated with the second transaction phrase token. Alternatively, thetransaction phrase token receiver may directly request a credit to atransaction account maintained by a transaction phrase token serviceprovider.

In an illustrative embodiment, a transaction phrase token holder, suchas transaction phrase token holders 102A, 102B, and 102C, can correspondto an individual that can communicate their transaction phrase tokensvia various communication devices, such as personal computers 104,mobile phones 106, specialized devices (e.g., kiosks, point-of-saleterminals), written instruments, or even orally. As illustrated in FIG.1, the quantity and type of communication device can vary amongtransaction phrase token holders. Additionally, a communication devicemay correspond to a generic communication device capable ofaccepting/transmitting transaction phrase tokens, such as a mobilephone. Alternatively, a communication device may correspond to aspecially configured device for communicating transaction phrase tokens,such as a kiosk.

In another embodiment, the transaction phrase token holders cancorrespond to merchants/vendors/service providers, such as transactionphrase token holders 102D and 102E. In one aspect, the transactionphrase token holders 102D and 102E can receive transaction phrase tokens(e.g., as a receiver) from another transaction phrase token holder aspart of a transaction. In another aspect, the transaction phrase tokenholders 102D and 102E may transmit transaction phrase tokens to anothertransaction phrase token holder as part of a transaction. Thetransaction phrase token holders 102D and 102E may transmit and/orreceive transaction phrase tokens via a variety of communicationdevices, such as computing devices, specialized devices (such as kiosksor point-of-sale terminals), telephonic devices, voice interfaces,visual interfaces, or orally via human agents. As will be explained ingreater detail below, the transaction phrase token holders 102D and 102Ecan implement a number of computer-executable components that facilitateinteraction with other transaction phrase token holders, 102A-102C or102D-102E (collectively “transaction phrase token holders 102”), and atransaction phrase token processing service. Specifically, thetransaction phrase token holders 102D and 102E can include a transactionphrase token interface 108 for obtaining transaction phrase tokens fromother transaction phrase token holders 102. In an illustrativeembodiment, a specific transaction phrase token interface 108 may beselected to correspond with the method of obtaining transaction phrasetokens (e.g., kiosks, communication network, oral, telephone, etc.). Thetransaction phrase token holders 102D and 102E can also include aservice provider interface 110 for communicating with a transactionphrase token processing service. As illustrated in FIG. 1, the differenttransaction phrase token holders 102 can communicate/transact businessdirectly or over a communication network, such as the Internet.

The transaction phrase token system 100 can further include atransaction phrase token processing service 112 for facilitating thecompletion of transactions between two or more transaction phrase tokenholders 102. As will be explained in greater detail below, thetransaction phrase token processing service 112 can obtain requests todebit/credit transaction accounts associated with transaction phrasetokens and process the requests accordingly. Although the processing ofa transaction is described with regard to two transaction phrase tokenholders 102, the present invention may facilitate a transaction with theexchange of a single transaction phrase token. Additionally, in anotheraspect, the transaction phrase token processing service 112 can alsointeract with a transaction phrase token holder to facilitate theconfiguration of the holder's transaction phrase tokens.

The transaction phrase token processing service 112 can implement atransaction account interface 114 for facilitating the assignment andconfiguration of transaction phrase tokens by transaction phrase tokenholders 102. The transaction phrase token processing service 112 canalso include a transaction phrase token processing component 116 forfacilitating the processing of transaction requests. The transactionphrase token processing service can include an account data source 118,such as a database, data store, data files, etc., that includesfinancial information, transaction account information, and transactionphrase token configuration information.

One skilled in the relevant art will appreciate that the transactionphrase token processing service 112 can include additional softwarecomponents that would be utilized to interact with various transactionphrase token holders 102 and/or facilitate the processing of transactionrequests. For example, the transaction phrase token processing service112 may include and/or interface with various financial andtransactional software components or services to facilitate themaintenance and processing of transaction accounts. Additionally, thetransaction phrase token processing service 112 may include and/orinterface with various personalization and tracking software componentsor services to facilitate the personalization of the transaction phrasetoken processing service for each transaction phrase token holder.Additionally, although the transaction phrase token processing service112 is illustrated as a single component in the system 100, one skilledin the relevant art will appreciate that the transaction phrase tokenprocessing service 112 can correspond to a number of computingcomponents and/or computing devices that can be distributed across thecommunication network.

With reference now to FIGS. 2A-2E, illustrative interactions between twotransaction phrase token holders (e.g., transaction phrase token holders102A and 102D) and the transaction phrase token processing service 112will be described. With reference to FIG. 2A, a transaction may beginwith the interaction of two transaction phrase token holders, a receiver102D and a transmitter 102A. It is assumed that based on someinteraction, the transmitter 102A will offer a transaction phrase tokento facilitate a payment to the receiver 102D from a transaction accountassociated with the offered transaction phrase token. Upon completion ofthe offer and/or the transfer of funds/credits to a transaction accountassociated with the receiver 102D, the transfer of control of an agreedupon element will be completed. For example, if the agreed upon elementis a good, the transfer of control may be the physical exchange of thegood. If the agreed upon element is a service, the transfer of controlmay be the performance/completion of the service.

As previously described, any one of a variety of communication methodsmay be utilized to transmit the transaction phrase token including, butnot limited to, communication network software applications (e.g., a Webpage, instant message, etc.), wireless communication applications (e.g.,a text message, a Bluetooth transmission, etc.), specializedhardware/software (e.g., kiosks, point-of-sale terminals, connectabledevices), orally (e.g., telephone or in person), and/or otherpublication mechanisms (e.g., tablet computing devices, barcodes, paper,etc.). As previously also described, the transaction phrase token ismade up of a set of characters that relay a secondary meaning to thetransaction phrase token holder when communicated in their entirety,such as spoken, written, published, etc. (e.g., “I Love Coffee”).

Based on the transaction phrase token that is offered, the receiver 102Dmay conduct some internal processing of the transaction phrase token. Inan illustrative embodiment, the receiver 102D may hold shipment orfulfillment of the agreed upon element until the transaction has beenfinalized. In another embodiment, the receiver 102D may requestadditional information from the transmitter 102A for completion ofsecurity provisions. For example, the receiver 102D may request a PIN orpassword. In a further embodiment, the receiver 102D may request abackup form of payment, such as a credit card. In still a furtherembodiment, the receiver 102D may also implement some initial processingto identify whether the received transaction phrase token is similar inrepresentation to other existing transaction phrase tokens. For example,if the receiver 102D has received a verbal representation of a targetphrase token (e.g., “Red Book”), the receiver may determine whetherthere are other transaction phrase tokens in the system 100 that arephonetically similar (e.g., “Read Book”). Similarly, if the receiver102D has received a written representation (e.g., “Potato Salad”), thereceiver 102D attempts to identify other similarly spelled or properlyspelled transaction phrase tokens (e.g., “Potato Salad”). In thisembodiment, the receiver 102D may ask the transmitter 102A to verify theappropriate transaction phrase token.

After the completion of any initial processing, the receiver 102Dtransmits a request to the transaction phrase token processing service112 for approval of the transaction. The request can include informationcorresponding to the transaction, such as identification of the offeredtransaction phrase token from the transmitter 102A, additionalinformation about either transaction phrase holders, descriptioninformation regarding the transaction, and a transaction phrase tokenfor the receiver 102D (or other transaction account processinginformation).

Upon receipt of the request, the transaction phrase token processingservice 112 may initiate automatic processing of the transaction phrasetoken processing request. In an illustrative embodiment, eachtransaction phrase token may be configured with a number of processingrules/instructions that can be executed by the transaction phrase tokenprocessing service 112. In one embodiment, the processing rules cancorrespond to an automatic approval/rejection of a request by a specifictransaction phrase token receiver, e.g., never accept a transactionphrase token request from this company. In another embodiment, theprocessing rules can correspond to value thresholds for automaticapproval/rejection for all transactions, e.g., approve all transactionsunder $10. In a further embodiment, the processing rules can correspondto an automatic approval/rejection for a type of good/service or classof goods/services, e.g., automatically reject any transaction associatedwith adult materials. In a still further embodiment, the processingrules can correspond to limitations of use of the transaction accountassociated with transaction phrase tokens. For example, a transactionaccount associated with a transaction phrase token may only beconfigured to be credited and can never be debited. Still further, theprocessing rules can correspond to a request to require approval of theproffered transaction by a transaction phrase token holder or otherdesignated authority. For example, all transaction phrase tokens couldbe configured as a default to require transaction phrase tokentransmitter approval for all transactions. In yet another embodiment,the processing rules can correspond to expiration or cancellation datathat specify whether the transaction phrase token can be activelyutilized for a transaction. One skilled in the relevant art willappreciate that various configuration options, including the combinationof various processing rules or the addition/exclusion of processing,could be exercised in accordance with a transaction phrase token.

With continued reference to FIG. 2A, in the event that transmitterapproval is required, the transaction phrase token processing service112 can communicate the approval request to the transmitter 102A. In anillustrative embodiment, the transaction phrase token processing servicecan utilize any one of a variety of communication methods for notifyingthe transmitter 102A and requesting approval. In one embodiment, thetransaction phrase token processing service may transmit an electronicmessage, such as an email, text message, or instant message, to adesignated communication account associated with the transmitter 102A.In another embodiment, the transmitter 102A may be presented with abatched set of transaction approval requests via a secure Web page. In afurther embodiment, the transmitter 102A may be presented with anapproval interface generated by a specialized device (e.g., a kiosk)located at a physical location associated with the receiver 102D. Forexample, the transmitter 102A may be required to log on to a kiosk andapprove a transaction while he or she is physically inside thereceiver's place of business. In still a further embodiment, thetransaction phrase token processing service 112 may provide aninteractive voice service that allows a transmitter 102A to approve atransaction over a telephone-based interface. Additional or alternativenotification/approval methodologies may also be implemented.

With reference now to FIG. 2B, in an illustrative embodiment, thetransmitter 102A may transmit an approval for the transaction in themanner described above. The transaction phrase token processing service112 can then process the approval. In one aspect, the transactionaccounts of the receiver and transmitter can be credited and debitedrespectively in the manner prescribed by the transaction. In anotheraspect, the transmitter 102A can provide feedback to the transactionphrase token processing service 112 for additional configuration oftheir transaction phrase tokens, which will be described in greaterdetail below. In a further aspect, the transaction phrase tokenprocessing service 112 may also maintain and update ratings, or otherstatistical tracking information, for each transaction phrase tokenholder 102A, 102D regarding the number of approvals and any additionalfeedback regarding either the transmitter 102A or receiver 102D. Thetransaction phrase token processing service 112 may also transmit anotification to the receiver 102D of the approval.

With reference now to FIG. 2C, in an alternative embodiment to FIG. 2B,the transmitter 102A may transmit a rejection for the transaction in themanner described above. The transaction phrase token processing service112 can then process the rejection in a number of ways. In one aspect,the transmitter 102A can provide feedback to the transaction phrasetoken processing service 112 for additional configuration of theirtransaction phrase tokens, which will be described in greater detailbelow. In another aspect, the transaction phrase token processingservice 112 may also maintain and update ratings, or other statisticaltracking information, for each transaction phrase token holder regardingthe number of rejections and any additional feedback regarding eitherthe transmitter 102A or receiver 102D. In yet another aspect, thetransaction phrase token processing service 112 can transmit anotification to the receiver 102D. Based on the notification, thereceiver 102D can provide feedback to the transmitter 102A and/or thetransaction phrase token processing service 112 to rectify thetransaction or clarify information associated with the rejectedtransaction. For example, the receiver 102D may attempt to clarify anerror in the request and/or obtain additional information from thetransaction phrase token processing service 112 or the transmitter 102A.

With reference now to FIG. 2D, in an alternative embodiment to FIG. 2Band similar to FIG. 2C, the transmitter 102A may transmit a rejectionwith prejudice for the transaction in the manner described above. Inthis embodiment, it is assumed that the request to process the offeredtransaction phrase token for completion of the transaction cannot becorrected. Similar to FIG. 2C, the transaction phrase token processingservice 112 can then process the rejection with prejudice in a number ofways. In one aspect, the transaction phrase token processing service 112may maintain and update ratings, or other statistical information, foreach transaction phrase token holder regarding the number of rejectionswith prejudice and any additional feedback regarding either thetransmitter 102A or receiver 102D. The transaction phrase tokenprocessing service 112 then transmits a notification of the rejectionwith prejudice to the receiver 102D. Based on the notification, thereceiver 102D can process the rejection with prejudice and may notnecessarily provide feedback. For example, the receiver 102D mayterminate the fulfillment process or initiate a request for return ofthe agreed upon element of the transaction.

With reference now to FIG. 2E, in another illustrative embodiment,another transaction may begin with the interaction between twotransaction phrase token holders, a receiver 102D and a transmitter102A. In this embodiment, it is assumed that, based on some interaction,the transmitter 102A will offer a transaction phrase token to receive apayment from the receiver 102D to a transaction account associated withthe transmitter's transaction phrase token. For example, the transactionphrase token of the transmitter 102A may correspond to a charity wishingto have other entities donate to its cause. As previously described, anyone of a variety of communication methods may be utilized to transmitthe transaction phrase token including, but not limited to,communication network software applications, mobile phone, specializedhardware/software, oral communications, and/or other publicationmechanisms. As previously described, the transaction phrase token ismade up of a set of characters that relay a secondary meaning whencommunicated in their entirety, such as spoken, written, published, etc.(e.g., “Red Cross Hurricane Relief Effort”).

Based on the transaction phrase token that is offered, the receiver 102Dmay conduct some internal processing of the transaction phrase token. Inan illustrative embodiment, the receiver 102D may request additionalinformation for completion of security provisions. For example, thereceiver 102D may request a PIN or password from the transmitter 102A.After the completion of any initial processing, the receiver 102Dtransmits a request to the transaction phrase token processing service112 for approval of the transaction. The request can include informationcorresponding to the transaction such as the identification of theoffered transaction phrase token from the transmitter 102A, additionalinformation about either transaction phrase holder, descriptioninformation regarding the transaction, and/or a transaction phrase tokenassociated with the receiver 102D (or other transaction accountprocessing information).

Upon receipt of the request, the transaction phrase token processingservice 112 may initiate automatic processing of the transaction phrasetoken processing request. As described above, each transaction phrasetoken may be associated with a number of processing rules/instructionsthat can be executed by the transaction phrase token processing service112. In this aspect, one or more processing rules may be implemented toprevent spoofing of the receiver's transaction phrase token. In oneembodiment, the processing rules can include an automaticapproval/rejection of a request by a specific transmitter, e.g., neveraccept a transaction phrase token request from this company. In anotherembodiment, the processing rules can include value thresholds for anautomatic approval/rejection for all transactions. In a furtherembodiment, the processing rules can include an automaticapproval/rejection for a type of good/service or class ofgoods/services. In a still further embodiment, the processing rules cancorrespond to limitations of use of the transaction account associatedwith transaction phrase tokens. Still further, the processing rules cancorrespond to a request to require transmitter approval. In theillustrative embodiment described, however, the transaction phrase tokenprocessing service 112 will not typically require an approval from thetransmitter since their account will most likely be credited. Upon thecredit and debit of the transmitter and receiver transaction accounts,respectively, the transaction phrase token processing service 112 cannotify the transmitter 102A and receiver 102D of the completedtransaction.

With reference to FIG. 3, a transaction phrase token assignment andconfiguration routine 300 implemented by the transaction phrase tokenprocessing service 112 will be described. At block 302, the transactionaccount interface component 114 of the transaction phrase tokenprocessing service 112 obtains a transaction phrase token assignmentrequest. In an illustrative embodiment, the request can originate uponan unprompted request by a potential transaction phrase token holder,such as through an Internet Web page. Additionally, the transactionphrase token request can be directly related to the completion of atransaction, such as in response to a prompt to secure a transactionphrase token to provide payment and/or in response to a request tosecure a transaction phrase token to accept payment.

At block 304, the transaction account interface component 114 obtains atarget transaction phrase token from the potential transaction phrasetoken holder. In an illustrative embodiment, the target transactionphrase token may be obtained via a user interface generated on acommunication device, such as a personal computer. An interface forobtaining a target transaction phrase token will be described below withregard to FIG. 4A. At decision block 306, a test is conducted todetermine whether the target transaction phrase token is proper. In oneaspect, the set of characters making up the target transaction phrasetoken may be required to be unambiguous to at least a class oftransaction phrase token holders 102. For example, a target transactionphrase token may not be able to be exactly identical or a simplevariation (e.g., plural, common misspelling, etc.) to another existingtransaction phrase token. Additionally, the target transaction phrasetoken may also be required to be unambiguous in its variousrepresentation (e.g., such as a representation of the transaction phrasetoken utilizing dual-tone multi-frequency “DTMF”, pronunciation of thetransaction phrase token, etc.).

If the target transaction phrase token is not determined to beunambiguous, at block 308, the transaction account interface component114 processes the non-unambiguous target transaction phrase token andthe routine 300 returns to decision block 306. In an illustrativeembodiment, the transaction account interface component 114 may providevisual cues on a screen display if a target transaction phrase token isnot unambiguous. Additionally, the transaction account interfacecomponent 114 may also suggest alternative transaction phrase tokensbased on a variation of a previously submitted target transaction phrasetoken, based on information associated with the transaction phrase tokenholder, from a source of available or commonly used transaction phrasetokens, such as a database or data store. In another aspect, each targettransaction phrase token may be required to be proper according to thepolicies of the transaction phrase token processing service 112. In oneembodiment, the transaction phrase token service 112 may prohibit atransaction phrase token that include offensive words or phrases. Inanother embodiment, the transaction account interface component 114 mayinclude logic that attempts to verify secondary meaning based ondictionaries, black lists, excluded terms, and the like. The transactionaccount interface component 114 may utilize the interface illustrated inFIG. 4A for processing the non-unambiguous target transaction phrasetoken.

With reference now to FIG. 4A, a screen display 400 generated by acomputing device for facilitating the selection of a target transactionphrase token will be described. As illustrated in FIG. 4A, the screendisplay 400 includes a first input portion 402 for obtaining data entrycorresponding to a target transaction phrase token, such as via akeyboard, touchpad, and the like. Accordingly, the screen display 400may provide a section for entering various target transaction phrases.As previously described, the screen display can visually indicate when atransaction phrase token is proper by modifying some appearance of theproposed transaction phrase token. For example, the proposed transactionphrase token may be displayed in a red font as it is typed out until ithas been determined to be a proper phrase token (e.g., some discernablesecondary meaning) and/or an established ambiguity value as illustratedat 404. Additionally, the screen display 400 can include visual cues,such as stoplight 406, for indicating whether the submitted targettransaction phrase token is proper and/or unambiguous.

With continued reference to FIG. 4A, the screen display 400 can includea second portion 408 that utilizes various resources to suggestacceptable transaction phrase tokens to a potential transaction phrasetoken holder. In one embodiment, the transaction account interfacecomponent 114 can utilize a recommendations engine to select variousphrases or terms that correspond to various items (e.g.,products/services) associated with an individual. One skilled in therelevant art will appreciate that a recommendations engine can providerecommendations for an individual based upon purchase histories, Webpage browse histories, search term histories, session trackinghistories, ownership or rental lists, preferences, and the like. Forexample, if the user has purchased a number of Sherlock Holmes mysterybooks, the screen interface may suggest “Sherlock Holmes Fan” 410 or“Mystery Fan” 412 as a potential transaction phrase token. Thetransaction account interface component 114 may also utilize additionalresources associated with an identified individual profile to generatephrases most likely to be unique with items found in the profile. Withregard to the previous example, the transaction account interfacecomponent 114 may browse all the above-identified Sherlock Holmesmystery books and identify “Elementary, My Dear Watson” 414 as a phrasethat is statistically most likely to be common among these books. Stillfurther, the transaction account interface component 114 may provide alisting of available transaction phrase tokens from a data source, suchas a database. The listing may correspond to previously utilizedtransaction phrase tokens, a selection of various pop culture phrases(or variations thereof), a manual listing of potential transactionphrase tokens, and the like.

In still a further embodiment, the transaction account interfacecomponent 114 may require qualifications for an entity to select atarget transaction phrase token. For example, the transaction accountinterface component 114 may classify certain transaction phrase tokensas “premium” transaction phrase tokens. In one aspect, the transactionaccount interface component 114 may require a transfer of funds from atransaction account to acquire premium transaction phrase tokens. Inanother aspect, the transaction account interface component 114 mayimplement use requirements to qualify for a premium transaction phrasetoken and/or to maintain a selected premium transaction phrase token(e.g., an individual must complete a certain number of transactions amonth to qualify for a premium transaction phrase token). One skilled inthe relevant art will appreciate that additional or alternativesuggestion/verification mechanisms could also be incorporated into thescreen display or as part of multiple screen displays.

Returning to FIG. 3, once an unambiguous target transaction phrase tokenis identified, at block 310, the transaction account interface component114 obtains configuration information for the transaction phrase token.In an illustrative embodiment, the transaction account interfacecomponent 114 can generate an interface for obtaining transaction phrasetoken configuration information, as will be illustrated with regard toFIG. 4B. In an illustrative embodiment, the transaction accountinterface component 114 may prompt a user to identify one or moreservice provider accepted transaction accounts (e.g., bank accounts,credit card accounts, service provider created accounts, etc.) that willbe used to reconcile the transactions associated by the selectedtransaction phrase token. In another embodiment, the transaction accountinterface component 114 can obtain additional financial information tocreate a service provider accepted transaction account. At block 312,the transaction account interface component 114 enables the targettransaction phrase token for use. In an alternative embodiment, thetransaction phrase token processing service 112 may also implement sometype of waiting period and additional controls to prevent misuse ofnewly acquired transaction phrase tokens. Still further, the transactionphrase token processing service 112 may also offer the transactionphrase token holder with the option of selecting other similarly spelledor similarly pronounced transaction phrase tokens.

With reference now to FIG. 4B, a block diagram illustrative of a screendisplay 450 generated by a computing device for facilitating theconfiguration of a transaction phrase token will be described. Asillustrated in FIG. 4B, the screen display 450 includes a first portion452 identifying the selected transaction phrase token that is to beconfigured. The screen display 450 also includes a second portion 454for obtaining various transaction phrase token configurationinformation. In one embodiment, the screen display 450 can allow atransaction phrase holder to select whether the transaction accountassociated with the transaction phrase token can be utilized for debitsonly or credits only. For example, the screen display 450 can provide aselectable control 456 for configuring the transaction phrase token fordebits and another selectable control 458 for configuring thetransaction phrase token for credits. In another embodiment, the screendisplay 450 can allow a transaction phrase holder to select whether thetransaction phrase holder will be used for international transactionsand/or which currencies will be enabled, such as with control 460. Oneskilled in the relevant art will appreciate that controls 456, 458,and/or 460 may be configured to a default setting.

In a further embodiment, the screen display 450 can allow a transactionphrase holder to specify automatic processing rules for varioustransactions. For example, the transaction phrase holder canautomatically approve or reject transactions from another identifiableentity, such as a vendor, by selecting or otherwise inputtingidentification information in control 462. In another example, thetransaction phrase holder can automatically approve or rejecttransactions for a specific good/item or class of good or item byselecting from a list of recently acquired items, selecting items from acatalog or providing description information in control 464. In afurther example, the transaction phrase holder can automatically approveor reject transactions based on a transaction amount in control 466. Instill a further example, the transaction phrase holder can identify oneor more delegates in control 468 that are allowed to utilize thetransaction phrase token. In yet another example, the transaction phraseholder can specify expiration data (e.g., date or time ranges) in acontrol 470 in which the transaction phrase token will not be availablefor use in a transaction. In still another example, the transactionphrase token holder can manually select whether the transaction phrasetoken is enabled in a control 472. One skilled in the relevant art willappreciate that the transaction phrase holder can specify a combinationof processing rules (e.g., automatically accept all transactions from myson to Joe's Bookstore for textbooks if they are under $100).

With continued reference to FIG. 4B, the second portion 454 of thescreen display 450 can also include additional configuration servicesassociated with a selected transaction phrase token. In one aspect, atransaction phrase holder may be allowed to implement accounting withother transaction phrase holders, such as by selecting link 474. Forexample, a transaction phrase token (e.g., “College Roommates Rent andUtilities”) may be set up to pay all rent and utilities payments by atransaction account associated with a specific transaction phrase token.In turn, the transaction phrase holder can account for a division of thedebit to one or more transaction accounts associated with othertransaction phrase tokens (e.g., “Peter's Rent”, “John's Rent”, and“Bill's Rent”). In another aspect, the transaction phrase holder maywish to access advanced transaction phrase token reporting services,such as by selecting link 476. For example, the transaction phrase tokenprocessing service 112 may provide a detailed listing of all pendingtransactions for approval, all approved transactions, all rejectedtransactions, etc. In another example, the transaction account interfacecomponent 114 may provide statistical information such as anidentification of the entities that have transferred the most funds tothe transaction phrase token holder or an identification of the entitiesthat have received the most funds from a transaction phrase tokenholder, and the like.

In a further aspect, a transaction phrase holder may wish to associatevarious metadata to a particular transaction phrase token to allow foradditional mining of its usage, such as by selecting link 478. Forexample, “I Love Coffee” can be associated with allentertainment-related expenses. The transaction account interfacecomponent 114 can then utilize the metadata to provide additionalstatistical information processing services to the transaction phrasetoken holder. For example, the transaction account interface component114 can provide a monthly listing of entertainment-related transfers byidentifying all transactions associated with transaction phrase tokenshaving “entertainment” as metadata. In still a further aspect, thetransaction phrase token processing service 112 may also provide amarketplace for the selling/usage of transaction phrase tokens, such asby selecting link 480. In an illustrative embodiment, certaintransaction phrase tokens may be highly sought after, e.g., “I LoveCoffee.” Accordingly, a transaction phrase token holder may be able toexplore the appraisal, selling, and/or renting of a transaction phrasetoken. One skilled in the relevant art will appreciate that theselection of links 474-480 may result in the generation of additionalscreen displays to enable the additional configuration services.

With reference now to FIG. 5, a transaction phrase token processingroutine 500 will be described. At block 502, the transaction tokenprocessing component 116 of the transaction phrase token processingservice 112 obtains a transaction request from a receiver 102D (FIGS.2A-2E) that includes at least one transaction phrase token. As describedabove, transaction phrase tokens may be obtained in a variety ofmanners. In one embodiment, a transmitter 102A may submit theirtransaction phrase token via a Web site to facilitate debiting of thetransaction account associated with the transaction phrase token. FIG.6A is a block diagram illustrative of a screen display 600 generated bya computing device for facilitating the submission of a transactionphrase token to complete a purchase transaction. As illustrated in FIG.6A, the screen display 600 can correspond to a typical e-commerce Webpage including an identification item for purchase 602 and the variousterms associated with the transaction 604, such as a vendor for theitem, a price associated with the purchase of the item, shippinginformation, technical specifications, and the like. Additionally, thescreen display 600 includes a portion 606 for submitting a transactionphrase token as a method of payment, such as via input field 608.

In another embodiment, a transmitter may submit a transaction phrasetoken to facilitate the crediting of the transaction account associatedwith the transaction phrase token. FIG. 6B is a block diagramillustrative of a screen display 650 generated by a computing device forfacilitating the transmission, such as by publication, of a transactionphrase token to complete a transaction. As illustrated in FIG. 6B, thescreen display 600 can correspond to a typical Web page that includescontent 652 rendered on a software application browser, such asinformation identifying aspects of the transaction phrase token holder.In addition, the screen display 650 includes a section 654 forpublishing the transaction phrase token. In the illustrative example,the transaction phrase token may correspond to a charity in which thetransaction account associated with the transaction phrase token can beconfigured only to accept credits and cannot be debited.

Returning to FIG. 5, at decision block 504, the transaction tokenprocessing component 116 then determines whether there are anyauto-processing rules associated with the offered transaction phrasetokens. If so, the transaction phrase token processing service 112accepts or rejects the transaction based on the auto-processing rules atblock 506 and the routine 500 terminates. As previously described, theauto-processing rules can correspond to the automatic rejection oracceptance of a proposed transaction based upon aspects of thetransaction, such as the vendor, the item/service, and/or transactionamount. Additional or alternative processing rules may also be utilizedwith the transaction phrase tokens. In an illustrative embodiment, theprocessing of an automatic acceptance can include the transfer of fundsbetween two transaction accounts as dictated by the terms of thetransaction. Additionally, the processing of the automatic acceptanceincludes the transmittal of a notification/instruction to transfercontrol of the agreed upon element (e.g., cash, service, good, value,etc.) between the parties to the transaction. The processing of theautomatic acceptance can further include the updating of informationabout the transmitter and the receiver indicating a successfultransaction and/or any additional information provided by either party.In another embodiment, the processing of an automatic rejection caninclude the transmittal of notifications, the updating of transactionphrase token holder profiles, and/or collection of additionalconfiguration information for the transaction phrase token.Additionally, the processing of the rejection can include the updatingof information about the transmitter and the receiver indicating anunsuccessful transaction and/or any additional information provided byeither party. In yet another embodiment, the auto-processing rules mayalso include the processing of a reputation score for the receiverand/or transmitter. The reputation score can correspond to a sum ofvalues in which each previous acceptance or rejection of a transactionis associated with a value. For example, if a reputation scorecorresponds to positive values for approved transactions and areceiver's reputation score (e.g., corresponding to a previoustransaction history) is below a threshold, the transaction may beautomatically rejected.

If at decision block 506 no auto-processing rules exist, the transactiontoken processing component 116 then transmits an acceptance request tothe transmitter 102A at block 508. As described above, there are anumber of mechanisms the transaction phrase token processing service 112may employ to transmit the request to the transmitter. At decision block510, a test is conducted to determine whether the proffered transactionhas been accepted by the transaction phrase token holder. In anillustrative embodiment, the transaction token processing component 116determines whether a responsive communication indicative of acceptancehas been received from the transaction phrase token holder.Additionally, the transaction token processing component 116 mayincorporate a time component such that a transaction is automaticallyapproved or rejected if a responsive communication has not been receivedfrom the transaction phrase token holder. If the transmitter accepts thetransaction, at block 512, the transaction token processing component116 processes the transaction acceptance. In an illustrative embodiment,the processing of the acceptance can include the transfer of fundsbetween two transaction accounts as dictated by the terms of thetransaction. Additionally, the processing of the acceptance may includethe transmittal of a notification/instruction to transfer control of theagreed upon element between the parties to the transaction.

As described above, the transaction token processing component 116 maytransmit notifications, update transaction phrase token holder profiles,and/or collect additional configuration information regarding thetransaction phrase token. Additionally, the processing of the acceptancemay include the updating of information about the transmitter and thereceiver indicating a successful transaction, and/or any additionalinformation provided by either party. For example, each transactionphrase token holder may be associated with a reputation score that isindicative of the number of previous acceptances/rejections.

Alternatively, if the transmitter rejects the transaction, at block 514,the transaction token processing component 116 can process thetransaction rejection. As described above, the transaction tokenprocessing component 116 may transmit notifications, update transactionphrase token holder profiles, and/or collect additional configurationinformation for the transaction phrase token. Additionally, theprocessing of the rejection can include the updating of informationabout the transmitter and the receiver indicating an unsuccessfultransaction and/or any additional information provided by either party.Further, the transaction token processing component 116 mayinitiate/facilitate additional feedback for a rejection that was notwith prejudice. At block 516, the routine 500 terminates.

As described above, in a further illustrative embodiment, transactionphrase token holders can be prompted to accept a proposed transactionwhen they are a transmitter 102A. Additionally, transaction phrase tokenholders can provide feedback to the transaction phrase token processingservice 112 for further configuration of transaction phrase tokens. Inone aspect, as described above, the transaction phrase token holder cansubmit additional configuration information for their transaction phrasetoken upon acceptance of a transaction. FIG. 7A is a block diagramillustrative of a screen display 700 generated by a computing device forfacilitating the acceptance of a transaction corresponding to atransaction phrase token holder and the additional configuration of thetransaction phrase token. As illustrated in FIG. 7A, the screen display700 includes content identifying the requested transaction, such as apicture of the item in question 702, and additional informationregarding the proposed transaction 704, such as an identification of thevendor (e.g., the purported receiver), the transaction amount, etc.Additionally, the screen display 700 includes a set of selectablecontrols 706 for approving or rejecting the transaction based on theprovided information. In an alternative embodiment, the screen display700 can further include additional controls for requesting additionalinformation and/or providing feedback related to theacceptance/rejection of the transaction.

With continued reference to FIG. 7A, the screen display 700 includes aset of controls for providing additional configuration information tothe transaction token processing component 116. As illustrated in FIG.7A, the screen display 700 includes a control 708 for approving alltransactions from the particular vendor (e.g., receiver), a control 710for approving all transactions for this item, and/or a control 712 forapproving all transactions for the value. In an illustrative embodiment,the screen display 700 can further include additional controls forspecifying more specific, or alternative, ranges or thresholds for theconfiguration information, as illustrated in value threshold controls714, 716, and 718. Additionally, the screen display 700 can include anadditional embedded link 720 to request accounting information withother phrase tokens. For example, the transaction phrase token holdermay wish to approve the transaction and at the same time place a requestto another transaction phrase token holder for some portion of thepurchase price.

In another aspect, as described above, the transaction phrase tokenholders can be prompted to reject a proposed transaction when they aretransmitted. Additionally, the transaction phrase token holders canprovide feedback to the transaction token processing component 116 forfurther configuration of transaction phrase tokens based on the rejectedtransaction phrase token. FIG. 7B is a block diagram illustrative of ascreen display 750 generated by a computing device for facilitating therejection of a transaction corresponding to a transaction phrase tokenholder and the additional configuration of the transaction phrase token.As illustrated in FIG. 7B, similar to FIG. 7A, the screen display 750includes content identifying the requested transaction, such as apicture of the item in question 752 and additional information regardingthe proposed transaction 754, such as an identification of the vendor(e.g., the purported receiver), the transaction amount, etc.Additionally, the screen display 750 includes a set of selectablecontrols 756 for approving or rejecting the transaction based on theprovided information. In this illustrative embodiment, the transactionphrase token holder has selected to reject the transaction. Accordingly,the transaction phrase token holder may be prompted to select whether toreject the transaction with prejudice or reject the transaction with apossibility of feedback/corrections, as described above via control 758.

With continued reference to FIG. 7B, the screen display 750 includes aset of controls for providing additional configuration information tothe transaction token processing component 116. The screen display 750includes a control 760 for rejecting all transactions from a particularvendor (e.g., receiver), a control 762 rejecting all transactions forthis item, and/or a control 764 rejecting all transactions for thevalue. Similar to FIG. 7A, the screen display 750 can include additionalcontrols for specifying ranges, thresholds, etc., for the configurationinformation, such as value thresholds 766, 768, 770, and 772. Oneskilled in the relevant art will appreciate that additional oralternative configuration information may be provided as part of thefeedback. Additionally, the transaction phrase token holder may beredirected to a more detailed transaction phrase token configurationinterface, such as the interface illustrated in FIG. 4B.

While illustrative embodiments have been illustrated and described, itwill be appreciated that various changes can be made therein withoutdeparting from the spirit and scope of the invention.

The embodiments of the invention in which an exclusive property orprivilege is claimed are defined as follows:
 1. In a networkedenvironment including a transmitting party, a receiving party, and atoken processing service implemented on a server distinct from thetransmitting party and the receiving party, a method for facilitatingthe processing of transactions comprising: obtaining, by the receivingparty, a request for a transaction from a transmitting party, whereinthe request for completion of the transaction includes at least one of averbal or written representation of a transaction phrase token, whereinthe transaction phrase token is associated with a transaction account,and wherein the transaction phrase token consists of a set ofalphanumeric characters unique to a transaction phrase token holderassociated with a transaction phrase token assignment request;processing, by the receiving party, the request for the transaction fromthe transmitting party according to a security policy associated withthe transmitting party, wherein the security policy indicates at leastone transaction category for which security verification information isrequired and at least one transaction category for which securityverification information is not required; determining, based at least inpart on the security policy and an aspect of the requested transaction,that security verification information is required; requesting, by thereceiving party, the security verification information from thetransmitting party as required by the security policy; in response toreceipt of the security verification information: transmitting a requestfrom the receiving party to the token processing service for completionof the transaction based at least partly on at least one auto-processingrule associated with a configuration of the at least one transactionphrase token; and causing an update to the security policy, the updatecomprising an addition to the at least one transaction category forwhich security verification information is not required; receiving, bythe receiving party, token processing information from the tokenprocessing service indicating the token processing service processingthe transaction based at least partly on the at least oneauto-processing rule associated with the configuration of the at leastone transaction phrase token; and processing a subsequent request tocomplete a transaction without requesting security verificationinformation, based at least in part on the update to the securitypolicy.
 2. The method as recited in claim 1, wherein the securityverification information includes at least one of a personalidentification number, password, and other security information.
 3. Themethod as recited in claim 1, wherein the set of characters in theirentirety have a secondary meaning to the transaction phrase tokenholder.
 4. The method as recited in claim 1, wherein the transactionphrase token is unambiguous among a class of transaction phrase tokens.5. The method as recited in claim 1, wherein the token processinginformation includes an acceptance of the transaction, the methodfurther comprising transferring control of an agreed upon element to thetransmitting party.
 6. The method as recited in claim 1, wherein thesecurity verification information corresponds to additional financialaccount information associated with the transmitting party.
 7. Themethod as recited in claim 1, wherein processing the request for thetransaction from the transmitting party includes determining whether thetransaction phrase token provided by the transmitting party is similarto other transaction phrase tokens and obtaining a confirmation of thetransaction phrase token from the transmitting party.
 8. The method asrecited m claim 1, wherein the transmitting party corresponds to anentity controlling the transaction account associated with thetransaction phrase token.
 9. The method as recited in claim 1, whereinthe transmitting party corresponds to a secondary entity designated by aprimary entity controlling the transaction account associated with thetransaction phrase token.
 10. The method as recited in claim 1, whereinthe request for a transaction from a transmitting party corresponds to arequest for a credit to the transaction account associated with thetransaction phrase token.
 11. The method as recited in claim 1, whereinthe request for a transaction from a transmitting party corresponds to arequest for a debit of the transaction account associated with thetransaction phrase token.
 12. The method as recited in claim 1, whereinconfiguration of the transaction phrase token includes at least one ofan acceptable transaction amount, an acceptable vendor, an acceptabletransmitting party, a qualification level for a transaction, anexpiration date, an acceptable agreed upon element, an unacceptabletransaction amount, an unacceptable vendor, an unacceptable agreed uponelement, and a required reputation score.
 13. The method as recited inclaim 1, wherein the token processing information includes a rejectionof the transaction, the method further comprising transmitting feedbackto the token processing service regarding the rejection of thetransaction.
 14. The method as recited in claim 1, wherein obtaining arequest for a transaction from a transmitting party includes obtaining arequest for the transaction via a computing device communicating over acommunication network.
 15. The method as recited in claim 1, whereinobtaining a request for a transaction from a transmitting party includesobtaining a request for the transaction via a device configured toobtain transmitting party input.
 16. In a networked environmentincluding a transmitting party, a receiving party, and a tokenprocessing service implemented on a server distinct from thetransmitting party and the receiving party, a method for facilitatingthe processing of transactions comprising: obtaining, by the receivingparty, a request for a transaction from a transmitting party, whereinthe request for completion of the transaction includes an audiblerepresentation of a transaction phrase token, wherein the transactionphrase token is associated with a transaction account, and wherein thetransaction phrase token consists of a set of alphanumeric charactersunique to a transaction phrase token holder associated with atransaction phrase token assignment request; processing, by thereceiving party, the request for the transaction from the transmittingparty according to a security policy associated with the transmittingparty, wherein the security policy indicates at least one transactioncategory for which security verification information is required and atleast one transaction category for which security verificationinformation is not required; determining, based at least in part on thesecurity policy and an aspect of the requested transaction, thatsecurity verification information is required; requesting, by thereceiving party, the security verification information from thetransmitting party as required by the security policy; in response toreceipt of the security verification information: transmitting a requestfrom the receiving party to the token processing service for completionof the transaction based at least partly on at least one auto-processingrule associated with a configuration of the at least one transactionphrase token; and causing an update to the security policy, the updatecomprising an addition to the at least one transaction category forwhich security verification information is not required; receiving, bythe receiving party, token processing information from the tokenprocessing service indicating the token processing service processingthe transaction based at least partly on the at least oneauto-processing rule associated with the configuration of the at leastone transaction phrase token; and processing a subsequent request tocomplete a transaction without requesting security verificationinformation, based at least in part on the update to the securitypolicy.